Bangkok Bank assists international clients with Indonesian branch

Bangkok Bank opened its 26th foreign branch in Surabaya, Indonesia to help international business clients deal with international transactions and loans.

This is only Bangkok Bank's second branch in Indonesia after 44 years when it established headquarters in Jakarta in 1968.

Surabaya is Indonesia's second-largest city, and a branch there should facilitate growth of the bank's foreign business and help local customers expand to that region.

It will provide a full range of financial services to both Thai and foreign clients.

"We can support customers' business expansion abroad with our experience in international banking," said president Chartsiri Sophonpanich,

adding that the branch will help to strengthen the competitiveness of local businesses as well.

Bangkok Bank has 26 foreign branches in 13 countries.

It has two banks each in China and Malaysia, branches in Japan, Hong Kong, Taiwan, Singapore, Indonesia, the Philippines, Vietnam, Laos, New York and London and an office in Myanmar.

Under the bank's Decade of Asia strategy, it has opened four branches in Malaysia over the past two years.

BBL has continued to increase its foreign loan portfolio, with a target of 20% of the bank's total debt outstanding.

As of Feb 29, the bank's total loan portfolio was at 1.37 trillion baht, up by 2.25% from last year. It projects loan growth of 5-6% this year.

For the source of this story, click here.